The Busi­ness End

Prague Business Travel Guide - - Front Page -

PRAGUE’S ECON­OMY CUR­RENTLY

ac­counts for around a quar­ter of the coun­try’s over­all GDP, but its role as a hub for nu­mer­ous in­ter­na­tional com­pa­nies and as­so­ci­a­tions epit­o­mises the role it plays on a much wider scale.

Shift­ing from an in­dus­trial to a ser­vice-ori­ented econ­omy over the past 20-30 years es­pe­cially, the mod­ern-day Prague has clev­erly evolved to be­come one of the fore­most fa­cil­i­ta­tors and en­ablers for in­ter­na­tional busi­ness dis­cus­sion and, as such, much of its work re­volves around en­hanc­ing its own in­fra­struc­ture to cater for this self­in­flicted de­mand.

“What’s worth men­tion­ing at the mo­ment is un­doubt­edly the newly opened Czech In­sti­tute of In­for­mat­ics, Ro­bot­ics and Cy­ber­net­ics (CIIRC) es­tab­lished at the Czech Tech­ni­cal Univer­sity,” the Prague Con­ven­tion Bureau notes. “Brand new build­ings of the In­sti­tute were opened in May, 2017 and CIIRC’s mis­sion is to be an in­ter­na­tion­ally recog­nised re­search in­sti­tute con­tribut­ing to stu­dent education and per­form­ing tech­nol­ogy trans­fer.

“Prague also in­tro­duced its first space in­cu­ba­tor, which is the first space-ori­ented in­cu­ba­tor in Cen­tral and Eastern Europe. Busi­ness Incubation Cen­tre (BIC) Prague was cer­e­mo­ni­ously opened in May, 2016 and the ob­jec­tive is to sup­port the use of space tech­nolo­gies in ev­ery­day life, thus en­sur­ing sup­port for re­search, de­vel­op­ment and in­no­va­tion and the mon­eti­sa­tion of the re­sults thereof.”

Over a five-year pe­riod, up to 25 Czech start-ups will be able to ex­plore the pos­si­bil­ity of us­ing space tech­nolo­gies for or­di­nar­ily life; em­pha­sis­ing the bal­ance that Prague has man­aged to strike be­tween in­ter­na­tional at­trac­tion and lo­cal sustainability.

The Con­ven­tion Bureau con­tin­ues: “A good ex­am­ple here is Mi­crosoft, who has a sub­sidiary in Prague, and has re­cently opened a new soft­ware de­vel­op­ment cen­tre in the city fo­cused on cus­tomer re­la­tion­ship man­age­ment - in au­tumn, 2016.

“In Novem­ber, 2016, Siemens also pre­sented their new De­vel­op­ment and Con­struc­tion De­sign Cen­tre opened in Prague. The Cen­tre deals with projects in in­dus­trial and process au­to­ma­tion, in­dus­trial com­mu­ni­ca­tions, in­tel­li­gent trans­port sys­tems, power en­gi­neer­ing el­e­ments and rail au­to­ma­tion.”

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